There may be fluid at the rear wheel cylinders but no pressure on your 1997 Oldsmobile Cutlass. You can try bleeding the rear wheels, if you cannot bleed the rear wheels then there is no pressure and you must check the system working back to the master cylinder until you find the problem. If you can bleed the rear brakes and the wheel cylinders still do not work properly then chances are that the rear wheel cylinders are frozen and may need to be replaced.